Morning Briefing: Franco-Nevada Acquire Stake in Kenorland Minerals

Good morning and welcome back to the Mining Stock Daily morning briefing. I am Trevor Hall. 

It's Tuesday, October 6th.

Gold and silver are both higher this morning, with gold up about nine-tenths of a percent to $4,178 an ounce and silver up just under a percent to $61.55. Copper is also nudging higher, up about a quarter of a percent to $6.60 a pound.

The big macro story out of South America: first-round results from Brazil's presidential election over the weekend showed former President Jair Bolsonaro taking a stronger lead over Luiz Inácio Lula da Silva than polls had anticipated, sending Brazilian equities and the real higher on Monday. The result matters to mining investors because Brazil is the world's largest exporter of iron ore, a top-five producer of copper, nickel, and bauxite, and home to significant gold production across the Amazon basin. A Bolsonaro victory in the second round would likely be seen by markets as a shift toward less regulatory friction for resource extraction, an outcome the sector has been watching closely.

One factor keeping copper's gains modest today: Chinese markets remain closed for the National Day Golden Week holiday and will not reopen until Thursday. The absence of the world's largest copper consumer from the market tends to thin volume and dampen price discovery, and traders will be watching closely when Chinese buying resumes to see whether pent-up demand translates into a move higher in the base metals complex.

We will get to the news from the miners and explorers in a moment, but first a mention of today's sponsor:

Today's episode of Mining Stock Daily is brought to you by…Vizsla Silver.

Vizsla Silver is advancing the 100%-owned Panuco silver-gold project in Sinaloa, Mexico, one of the world's highest-grade undeveloped silver projects, with a November 2025 Feasibility Study confirming an after-tax NPV of US1.8billion,a111%IRR,initialcapitalofUS173 million, and average annual production of 17.4 million silver-equivalent ounces over an initial mine life of 9.4 years at an all-in sustaining cost of US$10.61 per ounce. Vizsla Silver trades on the Toronto Stock Exchange and on the NYSE both under the symbol VZLA.

Here's what you need to know today.

Franco-Nevada, one of the world's largest gold-focused royalty companies, has acquired 10 million shares of Kenorland Minerals for $22.2 million, taking a 12.42% stake through a private purchase from co-founder John Tognetti and CEO Zach Flood. Kenorland is a prospect generator that holds a 4% net smelter return royalty on the Frotet Project in Quebec, where Sumitomo's Regnault gold system hosts an Inferred Resource of 2.55 million ounces at 5.47 grams per tonne. Kenorland Minerals trades on the TSX Venture Exchange as KLD and on the OTCQX as KLDCF. NEWS RELEASE

Brixton Metals has released results from 28 holes at its Langis Silver Project in the Cobalt mining camp of northern Ontario, with the headline hole returning 23.50 metres at 348 grams per tonne silver, including 4.0 metres at 1,975 grams per tonne and 2.0 metres at 3,386 grams per tonne from visible native silver. A second highlight hole returned 6.45 metres at 667 grams per tonne silver, including 1.0 metre at 3,570 grams per tonne. The company has added a third drill rig and is targeting 9,000 metres per month toward a maiden mineral resource estimate. Brixton Metals trades on the TSX Venture Exchange as BBB and on the OTCQX as BBBXF. NEWS RELEASE

1911 Gold has reported resource expansion drill results from the True North Mine in the Bissett Gold Camp of eastern Manitoba, intersecting up to 7.55 grams per tonne gold over 5.0 metres at the 710-711 Zone, including 32.90 grams per tonne over 0.50 metres, and up to 21.20 grams per tonne gold over 0.60 metres at the 007 Zone. 1911 Gold trades on the TSX Venture Exchange as AUMB. NEWS RELEASE

Newcore Gold has reported additional RC drill results from the Boin Gold Deposit at its Enchi project in Ghana, with hole KBRC407 returning 41.0 metres at 1.16 grams per tonne gold from 2 metres depth, including 13.0 metres at 2.54 grams per tonne. Two additional holes returned 59.0 metres and 55.0 metres of gold mineralization outside the current reserve pit, highlighting reserve growth potential at a deposit where 40% of the gold-in-soil anomaly remains undrilled. Newcore Gold trades on the TSX Venture Exchange as NCAU and on the OTCQX as NCAUF. NEWS RELEASE

Intrepid Metals has outlined a new carbonate replacement deposit copper-gold target called Kate at its Corral Copper project in Cochise County, Arizona, located 1.5 kilometres south-southwest of the Ringo Zone. Historical drilling at Kate returned 27.43 metres at 0.65% copper and 0.98 grams per tonne gold, including 1.52 metres at 3.2% copper and 4.8 grams per tonne gold, with drilling of the target planned for the coming weeks. Teck Resources is an equity stakeholder in Intrepid. Intrepid Metals trades on the TSX Venture Exchange as INTR and on the OTCQB as IMTCF. NEWS RELEASE

American Pacific Mining has announced a downhole geophysical and structural survey program at its Madison Copper-Gold Project in Montana, designed to define the geometry of the massive sulfide zone intersected in hole M26C-02 last month, which returned 30.8 metres at 7.40 grams per tonne gold and 0.29% copper, including 7.92 metres at 25.33 grams per tonne gold. The surveys will establish the dip and orientation of the sulfide body to guide step-out drill holes targeting the open southwestern extension. American Pacific Mining trades on the Canadian Securities Exchange as USGD and on the OTCQX as USGDF. NEWS RELEASE

Blue Moon Metals has reported the second-highest-grade tungsten assay in the history of the Springer Mine in Nevada through its ongoing historical core relogging campaign, with drill hole NM-30 returning 0.3 metres at 7.82% tungsten trioxide from 183.5 metres depth, a sample from a 1977 hole that was never assayed until the current team identified it this year. Springer is backed by a US$150 to $175 million investment commitment from the Elmet Group and EQ Resources announced in September, and major shareholders include Teck Resources, Oaktree, and Wheaton Precious Metals. Blue Moon Metals trades on the TSX Venture Exchange as MOON and on the NASDAQ Capital Market as BMM. NEWS RELEASE

District Metals has commenced diamond drilling at its Viken Property in Jämtland County, Sweden, targeting two large MobileMT conductive anomalies that are stronger and more extensive than the signature of the Viken Deposit itself. The Viken Deposit contains the world's largest undeveloped uranium mineral resource, along with significant vanadium, potash, molybdenum, nickel, copper, and zinc, and a July 2026 preliminary economic assessment outlined an after-tax NPV of US$2.88 billion at an IRR of 45.9%. District Metals trades on the TSX Venture Exchange as DMX and on the OTCQX as DMXCF. NEWS RELEASE

The Mining Stock Daily morning briefing is produced by Clear Commodity Network. It is distributed throughout the world through your podcast network of choice, and at Clear Commodity Network.

That's it for today everyone. Have a great day. Stay safe.